My lectures won't follow his, but I'll try to indicate how what we're doing in class links to that textbook.
Here are some other books which I'll consult during the semester.
Philosophically, if not literally, this semester's approach to algebraic geometry will be very similar to the one Mumford uses here.
This is a spare ("French") account of algebraic geometry, as opposed to Shafarevich's lush ("Russian") version. This is a fantastic, if somewhat forbidding, reference.
This can't be your only book on algebraic geometry, since it doesn't go far enough to serve as a reference; but what it does, it does very well.